Satellite broadband services provider, Multiemedia (ASX:MUL), reported a 24.57% net loss blowout to $12.765 for the 2005 financial year.

Despite the increased loss, the company maintained a bullish stance, with revenues up 31% to $24.647 million, saying its Airworks Media business is generating positive cashflow as is the Middle Eastern operations of its NewSat Division.

MUL shares closed down 0.1c to finish on 1.9c in heavy trading.